March 22, 2018 / 10:13 PM / in a month

Australia's Tabcorp prices $1.4 bln notes issue

March 23 (Reuters) - Australian horse-race gambling house Tabcorp Holdings on Friday priced a $1.4 billion issue of long-term notes to investors in the U.S. private placement market.

The notes will comprise four U.S.-dollar-denominated tranches, totalling $1.25 billion and two Australian-dollar-denominated tranches, totalling A$195 million ($150.13 million).

The proceeds from the issue will be used to repay A$1.8 billion bridge financing facility in connection with the merger with Tatts Group and to repay existing bank debt, the company added in a statement. ($1 = 1.2989 Australian dollars) (Reporting by Nicole Pinto in Bengaluru, editing by G Crosse)

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